20th July: Indian rupee report for exporters and importers

Insignia Consultants

New Delhi

www.insigniaconsultants.in

 

Friday, July 20, 2012

 

 TIME 08:37 AM IST                          

 

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INDIAN RUPEE REPORT FOR EXPORTERS AND IMPORTERS

 

	LAST	NET	MA 10	MA 18	MA 21
INR CROSS
INR CROSS	55.04	(0.12)	55.33	55.40	55.63
EUR	67.46	(0.18)	67.87	68.51	68.93
POUND	86.41	(0.22)	86.28	86.39	86.75
AUSTRALIAN	57.30	(0.11)	56.86	56.75	56.83
YEN	0.70	(0.00)	0.70	0.70	0.70
SWISS	56.16	(0.14)	56.49	57.03	57.38
UAE	14.98	(0.02)	15.07	15.08	15.15
HONG KONG	7.10	(0.01)	7.14	7.14	7.17
CANADIAN	54.59	(0.08)	54.52	54.48	54.64

 

Global factors will affect the rupee more than domestic factors unless there is a surprise in the Indian president election result. From next week month end demand will prevent rupee from a major fall against the US dollar. Economic numbers from Indian is riddled by slow growth and high inflation. Currency markets will take cues from domestic news.

 

USD/INR

55.60 is the key resistance and rupee needs to break 55.60 else it will fall to 54.80 and 54.50. Exporters should use a stop loss of 54.50 for their near term receivables while importers should use a stop loss of 56.30 for their near term payables.

 

EURO/INR

 

67.60 is the key resistance and a break of the same will result in 68.20-69.10. We expect euro-rupee to trade in 66.90-67.70 wider range today. Euro importers should use a stop loss of 68.10 for their near term payables while euro exporters use a stop loss of 66.58 for their near term receivables.

 

DAILY TECHNICAL ANALYSIS
	LTP	50 DAY MA	100 DAY MA	200 DAY MA
USD/INR
SPOT	55.0400	55.4737	53.4653	52.0638
1 MTH	34.50	34.75	36.34	34.48
2 MTH	69.50	66.99	69.39	65.20
3 MTH	98.25	96.76	99.35	92.28
6 MTH	181.00	169.58	175.85	161.63
9 MTH	257.00	235.32	242.85	219.65
12 MTH	324.00	300.44	305.89	271.20

 

Far dated forwards rose in demand. One year forward premiums can rise to 335-350 paisa today. Near term forward premiums should remain flat.

 

 

Disclaimer: Any opinions as to the commentary, market information, and future direction of prices of specific currencies, metals and commodities reflect the views of the individual analyst, In no event shall Insignia Consultants or its employees  have any liability for any losses incurred in connection with any decision made, action or inaction taken by any party in reliance upon the information provided in this material; or in any delays, inaccuracies, errors in, or omissions of Information. Nothing in this article is, or should be construed as, investment advice.

NOTES TO THE ABOVE REPORT

PLEASE NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS

ALL PRICES IN INDIAN RUPEES UNLESS OTHERWISE SPECIFIED

 

 

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